Lakeside Advisors INC. Sells 695 Shares of International Business Machines Co. (NYSE:IBM)

Lakeside Advisors INC. lessened its holdings in International Business Machines Co. (NYSE:IBM) by 26.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,980 shares of the technology company’s stock after selling 695 shares during the quarter. Lakeside Advisors INC.’s holdings in International Business Machines were worth $438,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IBM. Norden Group LLC raised its stake in International Business Machines by 16.3% in the first quarter. Norden Group LLC now owns 5,880 shares of the technology company’s stock valued at $1,123,000 after purchasing an additional 824 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of International Business Machines by 16.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 2,381 shares of the technology company’s stock worth $455,000 after acquiring an additional 344 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of International Business Machines by 11.1% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,880 shares of the technology company’s stock worth $4,369,000 after acquiring an additional 2,279 shares in the last quarter. BNP Paribas bought a new position in International Business Machines in the first quarter valued at approximately $1,196,000. Finally, Alliance Wealth Management Group raised its position in International Business Machines by 47.8% during the first quarter. Alliance Wealth Management Group now owns 2,077 shares of the technology company’s stock valued at $397,000 after purchasing an additional 672 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the topic of several recent analyst reports. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. The Goldman Sachs Group lifted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. UBS Group raised their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Up 0.7 %

Shares of NYSE IBM opened at $208.22 on Friday. International Business Machines Co. has a 52-week low of $144.84 and a 52-week high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company’s 50 day moving average price is $216.84 and its 200-day moving average price is $191.24. The company has a market capitalization of $191.80 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 4.28 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $2.20 EPS. Equities analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.